Privacy Policy

Last updated: January 2025

1. Introduction

ChopBase ("we," "our," or "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our services, including ChopQ and ChopMoni.

ChopMoni's financial services are provided in partnership with LivingSpring Microfinance Bank. When you use ChopMoni, certain data may be shared with LivingSpring Microfinance Bank for the purpose of providing financial services in compliance with banking regulations.

2. Information We Collect

Personal Information

We may collect the following personal information:

  • Name, email address, and phone number
  • Government-issued identification (for ChopMoni KYC requirements)
  • Business information (for vendors using ChopQ)
  • Bank account and payment information
  • Transaction history and financial data
  • Location data (with your consent)

Automatically Collected Information

When you use our Services, we automatically collect:

  • Device information (type, operating system, unique identifiers)
  • Log data (IP address, browser type, pages visited)
  • Usage data (features used, time spent, interactions)
  • Cookies and similar tracking technologies

3. How We Use Your Information

We use your information to:

  • Provide, maintain, and improve our Services
  • Process transactions and send related notifications
  • Verify your identity and prevent fraud
  • Assess creditworthiness for loan applications (ChopMoni)
  • Send you updates, marketing communications, and promotional offers
  • Respond to your comments, questions, and support requests
  • Comply with legal obligations and regulatory requirements
  • Analyze usage patterns to improve user experience

4. Information Sharing

We may share your information with:

  • LivingSpring Microfinance Bank: For ChopMoni users, we share necessary information to provide financial services under their banking license
  • Service Providers: Third parties who perform services on our behalf (payment processing, data analytics, customer support)
  • Business Partners: With your consent, for joint offerings or promotions
  • Legal Requirements: When required by law, regulation, or legal process
  • Business Transfers: In connection with mergers, acquisitions, or asset sales

We do not sell your personal information to third parties.

5. Data Security

We implement appropriate technical and organizational measures to protect your personal information, including:

  • Encryption of data in transit and at rest
  • Regular security assessments and penetration testing
  • Access controls and authentication mechanisms
  • Employee training on data protection practices

However, no method of transmission over the Internet or electronic storage is 100% secure. We cannot guarantee absolute security of your data.

6. Data Retention

We retain your personal information for as long as necessary to provide our Services, comply with legal obligations, resolve disputes, and enforce our agreements. Financial transaction records are retained in accordance with Nigerian banking regulations and Central Bank of Nigeria requirements.

7. Your Rights

Subject to applicable law, you have the right to:

  • Access the personal information we hold about you
  • Request correction of inaccurate or incomplete data
  • Request deletion of your personal information
  • Object to or restrict certain processing activities
  • Data portability (receive your data in a structured format)
  • Withdraw consent where processing is based on consent

To exercise these rights, please contact us at privacy@chopbase.com

8. Nigeria Data Protection Regulation (NDPR)

We comply with the Nigeria Data Protection Regulation (NDPR) and the Nigeria Data Protection Act. As required by NDPR, we:

  • Obtain consent before collecting personal data
  • Process data only for lawful purposes
  • Implement appropriate security measures
  • Respect your data subject rights
  • Report data breaches to the relevant authorities when required

9. Cookies

We use cookies and similar tracking technologies to collect and store information about your interactions with our Services. You can control cookies through your browser settings, though disabling cookies may affect functionality.

10. Children's Privacy

Our Services are not intended for individuals under 18 years of age. We do not knowingly collect personal information from children. If we become aware that we have collected data from a child, we will take steps to delete such information.

11. Changes to This Policy

We may update this Privacy Policy from time to time. We will notify you of any material changes by posting the new policy on this page and updating the "Last updated" date. We encourage you to review this policy periodically.

12. Contact Us

If you have any questions about this Privacy Policy or our data practices, please contact us: